why did bata get delisted from bittrex exchange
Statement on Bittrex delisting:
Available on PDF here:
https://bata.io/newsStatement on BTA/BTC market removal Bittrex.com
October 15, 2017 | Bata Cryptocurrency (BTA)
Bata has been traded on Bittrex since 11/20/2015.
October 3rd 2017 - a market deletion notice appeared on the Bittrex exchange for the Bata
market.
Bittrex asked Bata development to explain the shares concept - referring to a testing
announcement Profit Shares. Explanation was provided directly to Bittrex contacts.
Bittrex asked why Profit Shares was not considered as a security. Then proceeded to ask for
a lawyer's memo. Bittrex requested that a US Attorney was required to issue the
Memorandum.
It was made clear to Bittrex that Profit Shares is an independent project from BATA. Profit
Shares is not a token. It's a private crowd-funding platform.
We advised Bittrex that V1 Profit Share is not part of Bata cryptocurrency development
project. This made no difference as then they proceeded to ask for a legal analysis on
Bata, including clear details on how it will remain separate and independent from the Profit
Shares Platform.
We advised Bittrex that if the Bata developers paid for a security analysis on Profit Shares
then the Bata project would no longer be separate, but a vested or interested party. Bata is
separate from Profit Shares Platform and shall remain a separate project.
After discussing with the Bata Dev team, various lawyers in Australia who also had offices in
the USA, were contacted. The estimated legal expenses to initiate the process to satisfy
Bittrex demands were not feasible, and there was no certainty that a positive and timely
resolution would be possible. The Bata development team along with the Bata community's
support have decided that development funds would be invested in strengthening the Bata
development project.
Bata is a decentralised open source cryptocurrency project. Bata development is made up
of a small team. No development funds were ever acquired, or requested. The members of
the development team provide their own time and own funds for development.
Profit Shares Platform is a closed source project under development by Biznatch
Enterprises.
Please withdraw all your BTA to an official wallet or other exchange/s as previously
advised.
Official wallets are available on
https://bata.io/walletsPlease visit our website for a list of other exchanges.
https://bata.ioBata Cryptocurrency
Bata is an open source cryptocurrency that has been developed to replace trade dollars in a
traditional barter system, changing way the way we trade, by introducing Barter on the
Blockchain. Barter Currency on a blockchain, decentralized, secure and widely available in
the form of Bata, replacing a company issued trade dollar.
Bata is traded under the symbol BTA on multiple cryptocurrency exchanges around the
world.
Contact Information:
Bata cryptocurrency project -
contact@bata.ioWebsite:
https://bata.io